UniBank Car Loan Review

Purchase a range of vehicles and benefit from flexible repayments with this loan from UniBank.

The UniBank Car Loan offers a variable rate and no ongoing fees to help you purchase a car, motorbike, caravan or classic car. The loan offers flexible repayments and has the option to make additional repayments, with no penalty for early repayment. You can also benefit from unique features such as being able to add additional vehicle costs, like car insurance, to the loan.

This review will take you through everything you need to know about the loan to help you make a decision on whether it's right for you.

Main points to consider with the UniBank Car Loan

This car loan allows you to purchase a new or used car, towable caravan, boat, motorcycle or classic car. You can apply for between $2,000 and $80,000 which you're able to spend on the cost of the vehicle as well as on-road costs such as navigation systems or car insurance.

The loan comes with a variable rate of 9.95% p.a. The application fee will be waived if you apply by 30 August 2019, and are approved by 20 September 2019. You will pay no ongoing account-keeping fees with this loan and you can make extra repayments or repay the loan early without penalty.

Features of the UniBank Car Loan

There are many features included in this personal loan, such as:

  • No ongoing fees. There are no ongoing monthly or annual fees charged with this loan.
  • Suitable to buy a range of vehicles. You are able to use the loan funds to buy a new or used car, a classic car, a motorbike or a towable caravan.
  • Flexible repayments. You can make extra repayments at any time and redraw those should you need them. You are also able to pay off the loan early without penalty.
  • Borrow extra for on-road costs. Many loans only let you borrow the cost of the vehicle, but UniBank will let you apply for additional funds for car purchases such as navigation systems, car insurance or car alarms.
  • Loan amount. You can apply for between $2,000 and $80,000.
  • Loan term. Select loan terms of between Up to 6 years.
  • Variable rate. This loan comes with a competitive variable rate starting from 9.95% p.a. up to 10.64% p.a.

Fees and charges

Some of the fees you can expect with this loan include:

  • Application fee waived. The $100 application fee will be waived if you apply by 30 August 2019, and are approved by 20 September 2019.
  • A late payment fee of $10.

Apart from the fees above, there are no ongoing or monthly fees associated with this loan.

How to apply for the UniBank Car Loan

Applying for the UniBank Car Loan is easy. Simply click on “Go to Site” and ensure you meet the following requirements:

  • Be an Australian citizen or permanent resident
  • Be over the age of 18
  • Have adequate identification. Two forms of ID are needed and can include your driver’s licence, Medicare card, passport or birth certificate.
  • You must be a member of UniBank and become a shareholder within the company. This can be done online and costs $10.
  • You must show your assets and liabilities situation to show you have the ability to pay off this loan
  • You must also agree to a credit check, as your credit score has an impact on your eligibility for the loan.

While you benefit from no penalties for early repayments, it’s important to consider whether this personal car loan meets your individual needs. Compare other loans before making a decision.

Was this content helpful to you? No  Yes

Car Loan Offers

Important Information*
Logo for IMB New Car Loan
IMB New Car Loan

You'll receive a fixed rate of 5.49% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one up to two years old.

Logo for Latitude New and Used Car Loan
Latitude New and Used Car Loan

You'll receive a fixed rate of 6.99% p.a.
Apply for a loan from $5,000 to finance a new or used car. Flexible repayments and options to finance a classic car.

Logo for RACV New Car Loans
RACV New Car Loans

You'll receive a fixed rate from 5.69% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees. Note: Product only available to residents of Victoria.

Logo for Stratton Finance New Car Loan
Stratton Finance New Car Loan

You'll receive a fixed or variable rate depending on the lender you are approved with
Apply for up to $150,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Ask a question
Go to site